Repo rate unchanged at 4%; GDP to contract by 9.5% in current FY: RBI
RBI in its bi-monthly Monetary Policy statement has maintained a status quo keeping the key interest rates unchanged. The reverse repo rate remains unchanged at 3.35%, repo rate at 4%. RBI proposed the RTGS system to become 24X7 from Dec. 2020.
Did you Know
RBI will extend the scheme for co-lending to all NBFC, HFC.